The annual inflation rate in Canada rose to 0.7 percent in October 2020 from 0.5 percent in the previous month and above market expectations of 0.4 percent. Still, inflation remains well below 2.2 percent in February, before the coronavirus pandemic. Prices advanced further for food (2.3% vs 1.6% in September), namely fresh vegetables (+9.5 percent); shelter (1.8% vs 1.7%); health & personal care (1.8% vs 1.6%); and household operations, furnishings and equipment (0.4% vs 0.3%). Also, inflation was steady for alcoholic beverages, tobacco products & recreational cannabis (at 0.7%) while cost of clothing & footwear fell less (-4% vs -4.1%). In contrast, cost of transport dropped (-0.1% vs 0.1%); and prices of recreation, education & reading declined at a faster pace (-1.3% vs -1.2%). On a monthly basis, consumer prices went up 0.4 percent, rebounding from a 0.1 percent fall in the prior month and above forecasts of a 0.2 percent gain. source: Statistics Canada
Inflation Rate in Canada averaged 3.11 percent from 1915 until 2020, reaching an all time high of 21.60 percent in June of 1920 and a record low of -17.80 percent in June of 1921. This page provides - Canada Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
Inflation Rate in Canada is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Canada to stand at 1.10 in 12 months time. In the long-term, the Canada Inflation Rate is projected to trend around 1.60 percent in 2021 and 2.00 percent in 2022, according to our econometric models.